The Nigerian Exchange market capitalisation soared to N127.36 trillion as the week ended on a strong note, reflecting renewed investor confidence and strategic bargain-hunting. The NGX All-Share Index rose 0.73%, closing at 198,407.30 points, signaling positive momentum across the market despite fluctuating trading volumes.
Investors traded a total of 3.321 billion shares worth N164.845 billion across 318,907 deals during the week, a slight dip from the previous week’s 3.695 billion shares valued at N177.687 billion. Market analysts noted that this dip in turnover did not hinder overall gains, highlighting a focused shift toward quality equities.
The Financial Services sector maintained its dominance, accounting for 65.61% of total volume and 36.28% of total value, with the Oil & Gas and Consumer Goods sectors following closely. Top equities such as Access Holdings Plc, Fortis Global Insurance Plc, and First Holdco Plc drove 20.39% of the total equity turnover, showing strong investor preference for established blue-chip stocks.
Other market indices also performed well: the NGX Industrial Goods Index jumped 5.73%, and the NGX Main Board climbed 1.99%. Alternative investments attracted attention too, with Exchange Traded Products trading 4.426 million units valued at N741.652 million, while the bond market recorded 84,691 units transacted for N87.531 million.
On the corporate front, Linkage Assurance Plc activated the trading code for its 12.32 billion ordinary shares rights issue at N1.32 per share, boosting its capital management efforts. By week’s end, 34 equities appreciated, 61 depreciated, and 53 remained unchanged, underscoring the market’s dynamic nature amid continued upward trends.
source: punch